During the last 10 years, a small group of emerging economies in Asia have supported the growth in total global steel production. While India and South Korea have contributed, production from China overwhelmingly leads globally. Accounting for half of global steel production, analysts worldwide monitor China's monthly production figures closely for signs of economic strength but also to gauge forward pricing expectations based on global demand and the production response of competing mills overseas.
Turn the page to 2016 and the Chinese steel industry continues to dominate industry headlines. Total monthly production figures have repeatedly hit record levels, floating between roughly 69.5 and 70.5 million metric tons, but with a note of caution on the sustainability of this production volume.
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